Charles Schwab Investment Management Inc. Sells 6,452 Shares of Skyward Specialty Insurance Group, Inc. $SKWD

Charles Schwab Investment Management Inc. lowered its position in Skyward Specialty Insurance Group, Inc. (NASDAQ:SKWD) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 277,177 shares of the company’s stock after selling 6,452 shares during the period. Charles Schwab Investment Management Inc. owned about 0.69% of Skyward Specialty Insurance Group worth $14,668,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SKWD. LRI Investments LLC purchased a new position in shares of Skyward Specialty Insurance Group during the 1st quarter worth $67,000. KBC Group NV bought a new position in shares of Skyward Specialty Insurance Group in the first quarter worth about $81,000. ORG Wealth Partners LLC raised its stake in shares of Skyward Specialty Insurance Group by 86.9% in the first quarter. ORG Wealth Partners LLC now owns 2,273 shares of the company’s stock worth $123,000 after buying an additional 1,057 shares during the period. New York State Teachers Retirement System bought a new position in shares of Skyward Specialty Insurance Group in the first quarter worth about $179,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of Skyward Specialty Insurance Group in the first quarter worth about $201,000. 94.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on SKWD shares. Citigroup restated an “outperform” rating on shares of Skyward Specialty Insurance Group in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Skyward Specialty Insurance Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Piper Sandler decreased their price objective on shares of Skyward Specialty Insurance Group from $69.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, August 1st. Truist Financial raised their price target on Skyward Specialty Insurance Group from $61.00 to $70.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, JMP Securities raised their price target on Skyward Specialty Insurance Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.88.

Skyward Specialty Insurance Group Price Performance

NASDAQ:SKWD opened at $49.56 on Friday. Skyward Specialty Insurance Group, Inc. has a 1 year low of $37.79 and a 1 year high of $65.05. The stock’s 50 day simple moving average is $52.91 and its two-hundred day simple moving average is $53.98. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 15.58 and a beta of 0.62.

Skyward Specialty Insurance Group (NASDAQ:SKWD) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Skyward Specialty Insurance Group had a return on equity of 16.40% and a net margin of 10.53%.The business had revenue of $319.90 million for the quarter, compared to the consensus estimate of $324.64 million. During the same quarter in the previous year, the company posted $0.80 EPS. As a group, analysts anticipate that Skyward Specialty Insurance Group, Inc. will post 3.05 EPS for the current year.

Insider Buying and Selling at Skyward Specialty Insurance Group

In other news, CFO Mark W. Haushill sold 52,748 shares of the business’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $58.76, for a total value of $3,099,472.48. Following the sale, the chief financial officer directly owned 133,629 shares in the company, valued at $7,852,040.04. The trade was a 28.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.01% of the stock is currently owned by company insiders.

Skyward Specialty Insurance Group Profile

Skyward Specialty Insurance Group, Inc, an insurance holding company, underwrites commercial property and casualty insurance products in the United States. It offers general liability, excess liability, professional liability, commercial auto, group accident and health, property, surety, and workers' compensation insurance products.